Smyths in bid for arm of Toys R Us
Smyths Toys, said to be the country's fastest growing toy retailer, has made an offer to buy the Toys R Us business in Germany, Austria and Switzerland.
Efforts are being made by investment bank Lazard to find buyers for several international subsidiaries of Toys R Us.
The firm has 68 stores in Germany, employing 1,700 people, and according to a report in respected German newspaper Frankfurter Allgemeine Zeitung, Smyths has already made an offer to buy the company's assets in German-speaking countries.
Since being founded in Co Mayo, Smyths has become a hugely successful retailer. It owns seven stores across Northern Ireland and has been rapidly expanding throughout the UK.
It is set to open its eighth Scottish store this June, and earlier this month it opened a new location in Liverpool. It recently doubled its UK profits to £10m.